China / Society

China raises pension for corporate retirees

(Xinhua) Updated: 2013-01-09 17:14

BEIJING - Chinese authorities have decided to raise the pension for corporate retirees by 10 percent to cope with rising living costs, according to a cabinet meeting Wednesday.

The new rules took effect on Jan 1, 2013, according to a State Council executive meeting, chaired by Premier Wen Jiabao. The government has increased the corporate pension for nine consecutive years.

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